FedEx Co. (NYSE:FDX) Shares Sold by Beach Investment Counsel Inc. PA

Beach Investment Counsel Inc. PA lessened its stake in FedEx Co. (NYSE:FDX) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,748 shares of the shipping service provider’s stock after selling 161 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in FedEx were worth $1,401,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Transce3nd LLC purchased a new position in FedEx in the fourth quarter valued at about $26,000. Kentucky Trust Co acquired a new stake in shares of FedEx in the 4th quarter worth approximately $28,000. Pilgrim Partners Asia Pte Ltd purchased a new position in FedEx in the 4th quarter valued at approximately $28,000. Activest Wealth Management acquired a new position in FedEx during the fourth quarter worth $29,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in FedEx during the fourth quarter worth $32,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FDX stock opened at $219.96 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market capitalization of $52.70 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. FedEx Co. has a one year low of $194.30 and a one year high of $313.84. The company has a 50 day moving average price of $215.83 and a 200 day moving average price of $249.65.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter in the previous year, the firm posted $3.86 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

Insider Activity at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

FDX has been the subject of a number of research analyst reports. Barclays dropped their price target on FedEx from $350.00 to $330.00 and set an “overweight” rating for the company in a research report on Tuesday, June 3rd. Wells Fargo & Company lowered their price objective on shares of FedEx from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. BMO Capital Markets dropped their target price on shares of FedEx from $275.00 to $260.00 and set a “market perform” rating for the company in a report on Monday, May 19th. UBS Group reduced their price target on shares of FedEx from $331.00 to $311.00 and set a “buy” rating on the stock in a report on Wednesday, May 28th. Finally, TD Cowen lowered their price target on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $295.33.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.